Green Corridor Alliance Reviews Budget, Current Operations In Baku

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 7. Green Corridor Alliance board reviewed the joint venture's budget and ongoing operations in Baku, General Director Tural Aliyev said in a LinkedIn post.

According to the post, key priorities for the upcoming period were reviewed, and steps necessary for the effective implementation of current work were discussed.

"The Green Corridor Alliance is a joint venture established by Azerenergy OJSC (Azerbaijan), KEGOC JSC (Kazakhstan), and National Electric Grids of Uzbekistan JSC. The initiative stems from the Agreement on Strategic Partnership in the Field of Green Energy Development and Transmission, signed by the presidents of Azerbaijan, Kazakhstan, and Uzbekistan at COP29 in Baku on November 13, 2024. The founding agreement for the Green Corridor Alliance was signed on December 27, 2024, and the joint venture is headquartered in Baku," the post said.

Aliyev thanked the board members and partners for their continued commitment and constructive cooperation.

On April 4, 2025, Azerbaijan, Kazakhstan, and Uzbekistan, with the support of the Asian Development Bank and the Asian Infrastructure Investment Bank, announced the launch of the first phase of the“Trans-Caspian Green Energy Corridor” initiative. As part of the initiative, the countries signed a cooperation agreement on the preparation of a feasibility study, which provides for the integration of the three countries' power systems and the creation of a route for supplying renewable energy to Europe.

A joint venture, the Green Corridor Alliance, headquartered in Baku, was established to manage the project. The project's feasibility study is being conducted with financial support from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB).

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